With regard to statistical sampling, _______.
A)sample size is determined subjectively, or quantitatively, using appropriate statistics
B)sample size is determined objectively, or quantitatively, using appropriate statistics
C)this function should be outsourced by the auditor to a qualified professional
D)management should be heavily involved with sample selection

Question

Quizplus · Accepted Answer

Sample size should be determined objectively and quantitatively using appropriate statistical methods to ensure that the sample is representative of the population. This helps to minimize the risk of sampling errors and increase the reliability of the audit results. The auditor should have the expertise to determine an appropriate sample size and sampling method. Management should be informed and involved with the sampling process to ensure that it accurately reflects the population being tested. Outsourcing this function may introduce additional risk if the auditor does not have a thorough understanding of the client's business and industry.

With Regard to Statistical Sampling, _______